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Xeris Biopharma Holdings, Inc. (Symbol: XERS) is a pioneering biopharmaceutical company committed to developing and commercializing innovative therapies for patient populations in endocrinology, neurology, and gastroenterology. The company's mission is to revolutionize patient care by creating ultra-low volume, ready-to-use biotherapeutics delivered through patient-friendly injectable devices.
Xeris has successfully brought three groundbreaking products to market:
- Gvoke: A ready-to-use liquid glucagon designed to treat severe hypoglycemia, providing a critical solution for diabetic patients.
- Keveyis: The first FDA-approved therapy for primary periodic paralysis, offering relief for those suffering from this rare genetic disorder.
- Recorlev: Approved by the FDA for the treatment of endogenous hypercortisolemia in adult patients with Cushing's Syndrome, addressing a previously unmet need in this patient population.
In addition to these commercial successes, Xeris continues to innovate with a robust pipeline of development programs. Utilizing its proprietary formulation technologies, XeriSol and XeriJect, the company aims to bring new therapies to market that ease the administration and increase the efficacy of injectable treatments.
Financially, Xeris Biopharma Holdings has shown significant growth and resilience in a competitive market. Their strategic partnerships and collaborations further bolster their developmental and commercial capabilities, ensuring a steady pipeline of innovative products aimed at improving patient outcomes.
Recent achievements and ongoing projects underline Xeris' commitment to enhancing the quality of life for millions of patients globally. Keep up with the latest updates and news about Xeris Biopharma Holdings, Inc. to stay informed about their ongoing advancements and performance in the biopharmaceutical industry.
Xeris Biopharma has announced a CEO succession plan effective August 1, 2024. John Shannon, the company's current President and COO, will succeed Paul Edick as CEO and join the Board of Directors. Edick will continue in a senior advisory role until February 1, 2026. Marla S. Persky will become the new Chairperson of the Board.
The timing aligns with Xeris' strong financial performance, including anticipated Q2 2024 revenue exceeding $47 million, marking over 23% growth from the previous year. The company reaffirms its year-end 2024 cash guidance to be between $55 million and $75 million. Shannon brings over 40 years of experience in the pharmaceutical and healthcare industry to his new role.
Xeris Biopharma Holdings (Nasdaq: XERS) announced the granting of restricted stock units (RSUs) for 196,000 shares of its common stock to 26 new employees. These grants, under the NASDAQ Rule 5635(c)(4), were made on July 1, 2024, as part of Xeris' Inducement Equity Plan. The RSUs will vest over three years, contingent on continued employment. This plan aims to attract new talent to the organization.
Xeris Biopharma Holdings (Nasdaq: XERS) presented a post-hoc analysis from the SONICS study at ENDO 2024 in Boston (June 1-4, 2024). The analysis focused on the effects of levoketoconazole (Recorlev®) in Cushing’s syndrome patients. Key findings include a higher cortisol normalization rate in patients with lower baseline mUFC, who also required lower doses of Recorlev and experienced fewer liver-related adverse events. Group 2, with intermediate baseline mUFC, showed the highest mUFC response rate (36.4%), while Group 3 had the highest average daily dose and more liver-related adverse events. These findings highlight the importance of individualizing medical management based on baseline mUFC levels.
Xeris Biopharma announced positive topline results from its Phase 2 study of XP-8121, a once-weekly subcutaneous levothyroxine (SC) formulation. The study showed that XP-8121 provides predictable bioavailability and sustained levothyroxine levels, achieving normalized TSH/T4 levels with 45% less drug than daily oral doses. Participants reported higher satisfaction and a strong preference for the SC route. The FDA End-of-Phase 2 interaction is expected by year-end, aiming for a Phase 3 pivotal study. Adverse events were mostly mild, with no serious adverse events reported.
Xeris Biopharma Holdings (Nasdaq: XERS) announced its participation in the Jefferies Global Healthcare Conference. Senior management will host a fireside chat on June 6 at 2:00 PM Eastern Time. A live webcast will be available on Xeris’ Investor Relations website and will remain accessible for 60 days.
Xeris Biopharma reported a Q1 2024 total revenue of $40.6M, up 22% from Q1 2023, with full-year 2024 revenue guidance set at $175M-$200M. They ended Q1 with $87.4M in cash, closed licensing agreements for XeriJect® and XeriSol™ formulations, and announced a partnership with Beta Bionics. The company highlighted growth in product revenue, net revenue, and new technology partnerships.
Xeris Biopharma Holdings, Inc. (Nasdaq: XERS) has entered into an exclusive worldwide collaboration and license agreement with Beta Bionics, Inc. for the development and commercialization of a liquid stable glucagon product for use in bi-hormonal pump systems. This agreement marks a significant step towards bringing innovative diabetes management solutions to the market.
Xeris Biopharma Holdings, Inc. (Nasdaq: XERS) will report its first quarter 2024 financial results on May 9, 2024. The company is dedicated to developing and commercializing innovative products across various therapies. A conference call and webcast will be held at 8:30 a.m. Eastern Time to discuss the financial and operational results.
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